Crypto becomes part of pension funds. While a retirement investment company certainly does not include meme coins such as DOGE and SHIB in its portfolio, it offers 4 altcoin projects to its customers along with Bitcoin.
ForUsAll prefers these altcoin projects over SHIB and DOGE
Saving for retirement isn’t a hot topic for teens at the start of their careers. By the way, according to a study by Investopedia and as we have covered in the news of Cryptokoin.com, at least one of the generation Z, generation Y and even generation X is investing in crypto.
Prime Trust founder Tom Pageler says crypto adoption is already here. But the next big milestone will be crypto becoming a part of pension funds, and it’s a huge industry. Tom Pageler states that three-quarters of wealth is in retirement vehicles.
Swan Bitcoin, a firm that offers automated Bitcoin savings plans, turned to Pageler’s firm to offer its clients an IRA option for their Bitcoin. They, too, began to see an increase in demand for the asset towards the end of 2020. Yan Pritzker, co-founder of Swan Bitcoin, says that the combination of a lot of time sitting at home and doing research, as well as potential inflation concerns from money printing has sparked increased interest.
Not every firm is so enthusiastic about crypto joining the ranks of legacy asset classes in people’s long-term retirement accounts. Charles Schwab is one of them. Indeed, last month, the US Department of Labor warned 401(k) providers about crypto and urged them to ‘be extremely careful’ when accepting it as part of their offerings.
Brady Swenson, vice president of marketing and education at Swan Bitcoin, said, “We believe that Bitcoin is the only asset that can be invested for a long period of time. “So we believe it is the only asset in the crypto space that we can sell responsibly and advise people to buy and hold for a long time.”
However, David Ramirez, co-founder of ForUsAll, notes that for retirement planning purposes, an investment portfolio must balance growth and security, given a person’s age and time to retirement. And crypto may be a very small percentage of that allocation. Also, the crypto menu in their offerings is of institutional quality and they do not offer tokens like DOGE or SHIB. Along with Bitcoin, altcoin projects such as Ethereum (ETH), Solana (SOL), Algorand (ALGO), and Chainlink (LINK) are being offered as part of ForUsAll’s planned offerings.
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